Diversified Energy Sells Chunk of Recently Acquired Tanos Haynesville Acreage

The divestiture effectively reduces Diversified Energy’s investment in the previously announced Tanos transaction by 30% to $81 million from the original $118 million, net of purchase price adjustments. 

Diversified Energy Sells Chunk of Recently Acquired Tanos Haynesville Acreage

The acquisition of Tanos, which included Cotton Valley and Haynesville assets in Louisiana and Texas, was completed in August by Diversified Energy through a co-investment with funds managed by Oaktree Capital. (Source: Hart Energy)

Diversified Energy Co. Plc agreed on Nov. 12 to sell undeveloped Haynesville Shale acreage it had recently acquired from Tanos Energy for approximately $72.8 million in cash.

“I am proud of our team’s actions to enhance the value of our recent Tanos acquisition, significantly reducing our net purchase price by successfully monetizing these assets,” commented Diversified CEO Rusty Hutson Jr. in a release by the company.

“The sale proceeds enhance our liquidity as we evaluate other value-accretive opportunities,” Hutson added.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.